Carat enters Canada

Published on August 13, 1998.

MONTREAL -- Carat has bought a 49% minority interest in Montreal's Strategem agency with the plan to enter the Toronto market very soon.

David Verklin, chief executive officer of Carat's New Yorkbased North American operation, told Marketing Magazine: "This is our first approach in Canada, and I'll immediately turn my attention to see what we can do in Toronto and the Englishspeaking part of Canada."

Mr. Verklin says Carat might consider a joint venture, a start-up, an expansion of Strategem into Toronto, or an acquisition.

Peter Swain, chairman and CEO of Media Buying Services in Toronto, says he would consider a joint venture with Carat or an offer for Carat to acquire MBS. Carat is owned by British parent Aegis plc.